We study the welfare implications of public information precision in a beauty contest framework allowing for optimal stabilization policies and information obfuscation. When policy makers' ability to obfuscate information is constrained, increasing public information precision can be welfare improving.
Colombo, L. V. A., Femminis, G., Optimal policy intervention, constrained obfuscation and the socialvalue of public information, <<ECONOMICS LETTERS>>, 2014; 123 (N/A): 224-226. [doi:10.1016/j.econlet.2014.02.004] [http://hdl.handle.net/10807/56562]
Optimal policy intervention, constrained obfuscation and the social value of public information
Colombo, Luca Vittorio Angelo;Femminis, Gianluca
2014
Abstract
We study the welfare implications of public information precision in a beauty contest framework allowing for optimal stabilization policies and information obfuscation. When policy makers' ability to obfuscate information is constrained, increasing public information precision can be welfare improving.
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